Where you want to live — and where you can afford to live — depends on many factors. Neighborhoods vary in their perks and downfalls when it comes to price, commute distance, transportation access, nightlife, and other lifestyle amenities.

15. Hell's Kitchen

Hell's Kitchen, also known as Midtown West, was once a poor and working-class neighborhood that has steadily gentrified over a couple of decades. Because of its proximity to many Broadway theaters and the famed Actors Studio, the neighborhood became a popular area for aspiring actors. Hell's Kitchen boasts shorter commute times and offers a lively nightlife scene for its residents.

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14. Flatiron District

Home to the Flatiron Building, one of the oldest skyscrapers in the city, at the intersection of Broadway and Fifth Avenue, the Flatiron District features a great restaurant scene, upscale real estate, and an impressive stretch of shopping. It is increasingly known as a huge area for fitness clubs. The median rent for the neighborhood is a steep $1,901.

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13. Greenwich Village

Greenwich Village possesses its own sense of character and charm within the city. The neighborhood has served as a home to the creative community, the LGBT movement, and New York University. The area has become a melting pot of its own, filled with bustling restaurants and venues, while keeping its small community feel.

11. Prospect Heights

Prospect Heights is more centrally located in Brooklyn and offers direct access to the 582-acre Prospect Park, in which the seasonal food event Smorgasburg is hosted on Sundays. The Brooklyn Public Library and the Barclays Center can be found in the neighborhood as well.

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10. NoHo

NoHo, named for its location north of Houston Street, is an upscale, primarily residential area wedged between Greenwich Village and the East Village. With many well-to-do residents — like the Astor and Vanderbilt families, Charles Dickens, and Washington Irving — once occupying the neighborhood, NoHo has transitioned into a trendier area popular among celebrities, contributing to a higher cost of living. The median rent is $2,001.

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9. SoHo

Known as perhaps the trendiest neighborhood in Manhattan, SoHo features upscale boutiques and restaurants out of a foodie's dream that attract a combination of young creatives and celebrities. Located south of Houston Street, SoHo and its cultural amenities come at a high cost, making it less affordable than other neighborhoods in the city.

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8. Gramercy

Gramercy is a historic neighborhood just east of the Flatiron District where some of the building facades date back to the 19th century, favoring Italian and Greek Revival aesthetics. The neighborhood is known for its uber-exclusive Gramercy Park, in which only residents who pay an annual fee and have a key can get in.

5. Kips Bay

Located south of Murray Hill between 23rd and 34th streets, Kips Bay was originally named after an early colonial settler of the riverside area. The neighborhood is known for being quieter and more peaceful than others, but it's been leading the way in the "micro-apartment" movement in the city.

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4. Dumbo

Dumbo — an acronym for "down under the Manhattan Bridge overpass" — is the area between the Brooklyn Bridge and Manhattan Bridge, and the neighborhood has become prominent because of its enviable location, easy access to both Manhattan and Brooklyn, and an impressive tech community. As as result, the neighborhood is one of the priciest on the list.

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3. Nolita

Nolita is located, as the name suggests, just north of Little Italy. The neighborhood slowly transitioned from being considered a part of Little Italy to its own distinctive area that still couldn't quite be lumped in with SoHo. Nolita has become a popular area for hip young adults and models, but it's generally more affordable than other trendy neighborhoods like SoHo.